Research by Housing.com and NAREDCO found that most home buyers want discounts along with flexible payment options as an incentive.
Real estate is still the preferred asset class for investment in the wake of the COVID-19 pandemic, but most home buyers want discounts along with flexible payment options as an incentive, according to a study by Housing.com and NAREDCO. The real estate portal conducted a survey in January-June this year with more than 3,000 consumers.
According to the study, real estate is the preferred investment route for 43 percent (35 percent last year) of respondents, followed by shares of 20 percent (15 percent last year), fixed deposit 19 percent (22 percent last year). percent last year) and gold 18 percent (28 percent last year).
“The health crisis has heightened the importance of home ownership around the world. As a result, there is a new demand in the residential real estate market not only from those who buy housing for the first time, but also from many consumers who are moving to more spacious apartments, ”said the Housing Fund. This was announced by the CEO of .com Group Dhruv Agarwala.
“This surge in demand driven by the coronavirus, fueled by low home prices and historically low interest rates on home loans, has helped residential property developers successfully overcome the dire economic situation caused by this pandemic,” he added.
NAREDCO President Niranjan Hiranandani said: “The value of home ownership has been amplified by the COVID-19 pandemic crisis with renewed preferences. Integrated community life will gain momentum as it offers a holistic lifestyle in one place and also offers work close to home. possibilities.”
As the economic recovery gradually picks up steam amid a festive tailwind, vibrant capital markets, declining home loan interest rates, record high foreign reserves and higher employment for foreign direct investment and an upbeat demand stimulus, he said the cut in GST and tax breaks will go a long way towards strengthening sustainable demand and are backed by a positive consumer confidence index for the second half of fiscal 21-22.
Among other important findings, a majority of respondents (71 percent) believe flexible payment plans and discounts will provide much-needed financial assistance in the current time frame and motivate them to make purchasing decisions.
Strong home sales in two key markets in Maharashtra – Mumbai and Pune – suggest that the state government’s stamp duty reduction did indeed play an important role in boosting demand between September 2020 and March 2021.